777 

3 

FG2 


s 

University  of  Calif orrua  •  Berkeley 


PROSPECTUS  OF 

Cbe  forward 

mining 
Development 

Co. 

19  TOLTEC  BLDG.   DENVER,  COLO. 


GOLDFIELD 

AN  D 

BULLFROG 


NEVADA 


PRO  SPE  CTUS 

of 

The  Forward  Mining 

Development 

Company 


Incorporated  tinder  the  Laws  of  the  State 
of  Wyoming 


Capital  Stock,  $500,000.00 

500,000  Shares  of  a  Par  Value  of  $1.00  per  Share,  all 

Fully  Paid  and  Non-assessab'e,  with  no  Individual 

Liabilities  to  Stockholders. 


PRESIDENT 

LUCIEN  L.  PATRICK 

GOLDFIELD,  NEVADA 
SECRETARY  AND  TREASURER 

J.  M.  PATRICK 

DENVER,  COLORADO 
GENERAL  MANAGER 

WM.  F.  PATRICK 

GOLDFIELD,  NEVADA 


Office:    *9  Toltec  Bldg.,  Denver,  Colo* 
Denver  Managing  Director:  JAS.  M.  PATRICK 

THE    AFP-  CO.,    DENVER. 


INTRODUCTORY 


>UR  attention  is  invited  to  the  statements  here- 
in, in  the  hope  that  you  are  alert  to  take  advan- 
tage of  this  opportunity  to  make  a  good  and 
profitable  investment.  We  shall  herein  set  forth 
our  plan  as  briefly  as  possible,  and  shall  only  state  facts 
which  are  necessary  to  explain  the  scope  and  character 
of  work. 

It  has  become  a  well-recognized  fact  that  to  insure 
success  in  any  business  enterprise,  concerted  action  of 
individuals  and  combination  of  capital  are  essential  re- 
quisites. Single  individual  effort  no  longer  has  the  same 
opportunity  as  in  the  past. 

Purpose  and  Corporate  Powers  of  Company 

The  purpose  of  this  Company,  primarily,  is  to  take 
advantage  of  the  numerous  opportunities  to  acquire  and 
develop  mining  properties,  which,  for  various  reasons, 
prospectors  are  unable  to  develop.  Our  method  shall  be 
to  have  a  careful  investigation  made  by  our  mining  ex- 
pert, of  any  such  properties  coming  to  our  knowledge, 
and  if,  upon  thorough  investigation,  our  expert  is  satis- 
fied that  the  property  promises  good  results,  the  Parent 
Company  will  then  proceed  to  obtain  control  of  it  on  the 
most  favorable  terms  possible,  either  by  lease  and  bond, 
or  long-time  option,  and  proceed  to  thoroughly  prospect 
the  same  until  satisfied  that  the  property  is  either  unde- 
sirable, or  that  it  promises  good  results  upon  further  de- 
velopment ;  in  no  case  will  the  Parent  Company  permit 
the  expenditure  of  over  $500.00  in  the  investigation  of 
any  one  property,  and  if,  after  reasonable  investigation, 
the  property  is  not  reported  on  favorably  by  our  expert, 
the  same  will  be  abandoned.  But,  should  his  report  jus- 
tify the  purchase  of  any  property,  immediate  steps  will 
be  taken  to  acquire  absolute  title  thereto  and  a  subsid- 
iary company  will  at  once  be  organized  on  such  property. 

The  Parent  Company  will  undertake  the  financing  of 
the  subsidiary  company,  and  afterwards  exercise  a  gen- 
eral supervision  over  its  affairs.  A  liberal  allotment  of 
stock  in  the  subsidiary  company  will  be  sold  for  treasury 
purposes,  at  a  price  that  will  guarantee  ample  funds  for 
all  possible  future  requirements. 

To  compensate  the  Parent  Company  for  the  costs  of 
financing,  organizing,  examining  and  such  preliminary 
exploratory  work  as  may  be  necessary,  previous  to  the 
acquisition  of  properties,  they  shall  retain  a  controlling 


ret/ 

interest  in  all  subsidiary  companies.  Thus  the^aximum 
of  gain  is  possible  at  the  minimum  of  cost ;  and  in  no 
event  need  the  capital  stock  of  the  Parent  Company  be 
seriously  impaired. 

Organization 

This  Company  is  incorporated  under  the  laws  of 
Wyoming.  Its  charter  is  liberal  and  affords  abundant 
latitude  for  the  proper  exploitation  of  any  proposition 
that  may  receive  the  consideration  of  the  Company. 

Board  of  Trustees 

The  success  of  such  an  organization  depends  largely 
upon  its  management.  It  is  a  well  recognized  fact  that 
mining  properly  conducted  yields  larger  dividends  than 
any  other  legitimate  investment,  and  that  less  money  is 
lost  proportionately  in  mining  than  in  any  other  business. 

The  men  who  constitute  our  Board  of  Trustees  are 
such  as  have  already  achieved  success,  not  only  in  min- 
ing, but  in  commercial  and  other  business  pursuits.  We 
have  men  who  are  experts  in  their  particular  line,  and 
each  will  give  his  personal  and  undivided  efforts  to  the 
success  of  this  enterprise. 

Capital  Stock 

The  capital  stock  of  this  Company  is  $500,000,  divided 
into  500,000  shares  of  the  par  value  of  one  dollar  each, 
which  is  absolutely  fully  paid  and  non  assessable,  with 
no  individual  liability  to  the  stockholders. 

Treasury  Stock 

The  treasury  stock  consists  of  three-fifths  of  the 
entire  capitalization.  The  proceeds  to  be  used  for  the 
purpose  of  developing  the  Company's  properties  and 
defraying  expenses  of  our  mining  experts  in  making 
examinations  of  the  various  propositions  submitted; 
also  cost  of  acquiring  control  of  such  properties,  pre- 
liminary to  their  final  acquisition  by  the  Company. 

The  first  allotment  of  treasury  stock  offered  will  be 
100,000  shares. 

Properties  and  Interests  Owned  by  the 
Forward  Company 

210,000  shares  Joshua  Man,  Mayflower  and  Gold  Button 

stock. 

500,005  shares  (the  control)  Goldfield  Mascot  Mining  Co. 
500,005  shares  (the  control)  Red  Fox  Bullfrog  Mining  Co. 

6,155  shares  Bullfrog  Water,  Light  &  Power  Co. 

7,000  shares  Yankee  Girl  Gold  Mining  Co. 

In  addition  to  these  valuable  holdings,  the  Forward 
Company  also  holds  options  on  several  properties  in 
Goldfield,  Bullfrog,  and  the  new  camp  of  Manhattan, 
which  are  no'w  being  investigated  by  its  engineers,  and 
which,  if  found  desirable,will  be  acquired  by  the  Company. 


In  a  recent  number  of  the  Colorado  Springs  "  Mining 
Investor"  the  following  article  appeared,  which,  in  view  of 
the  ultra -conservative  record  of  that  journal,  and  the 
fact  that  it  contains  a  quite  comprehensive  and  full  ex- 
pose of  our  plans  and  progress,  we  commend  it  to  the 
careful  attention  of  every  reader : 

"To  the  moderate  investor  wishing  to  employ  his  or 
her  limited  capital  in  a  productive  enterprise,  the  basic 
principles  of  the  Forward  Mining  Development  Company 
should  command  immediate  attention.  Operating  on  the 
fundamental  plan  that  results  from  combinations  of  cap- 
ital are  more  productive  than  individual  efforts,  and  that 
a  cumulative  mutual  system  is  as  practicable  in  mining 
as  in  insurance,  this  company,  though  only  of  recent  for- 
mation, has  already  demonstrated  the  solidity  and  suc- 
cess of  the  principles  upon  which  it  is  founded. 

"The  Forward  Company  is  a  parent  or  holding  com- 
pany, and  under  its  corporate  and  general  plan  of  ope- 
rating, PRACTICALLY  MAKES  ALL  OF  ITS  STOCKHOLDERS 

PROMOTERS — participating  in  all  promoters'  profits — and 
at  no  additional  cost  to  their  individual  holdings.  Under 
its  plan  it  is  possible,  and  quite  probable,  for  it  to  be 
drawing  dividends  from  a  dozen  or  more  subsidiary  com- 
panies over  which  it  will  exercise  control;  not  to  mention 
other  collateral  and  auxiliary  sources  of  revenue  not  en- 
joyed by  the  ordinary  mining  company— which  adds  im- 
mensely to  the  earning  power  of  its  capital  stock— and 
makes  its  holdings  exceptionally  desirable  as  investments. 

"Another  great  advantage  under  the  Forward's  plan, 
is  the  fact  that  no  considerable  amount  of  money  need 
be  involved  at  any  one  time,  for  as  soon  as  a  subsidiary 
company  is  established  on  a  sound  paying  basis,  it  will 
pay  back  to  the  Forward  Company  all  the  money  it  has 
advanced  in  the  development  of  the  subsidiary  company; 
thus  drawing  and  adding  strength  to  and  from  each 
other,  without  impairing  the  capital  stock  of  either. 

"The  Forward  Company  doesn't  claim  anything  new 
or  novel  in  their  plan,  as  it  has  been  in  successful  oper- 
ation for  many  years  by  the  Calumet  &  Arizona,  Calumet 
&  Pittsburg,  the  Development  &  Investment  Company 
of  St.  Louis,  the  London  Exploration  Company  and 
other  world-famous  companies  which  have  made,  and 
are  making,  millions  of  dollars  for  their  stockholders. 
Shares  in  these  companies  at  their  inception  could  have 
been  purchased  for  cents,  whereas  now  they  command 
dollars. 

"The  Forward  Company  has  recently  taken  over  eight 
claims— the  Mascot,  Eugenia,  Creseus  and  Lady  Rox- 
burgh, situated  in  the  midst  of  great  activity  in  Goldfield, 
and  the  Red  Fox  group  of  four  claims  in  the  Bullfrog 
district— on  which  they  have  organized  the  Goldfield 
Mascot  Mining  Company,  and  the  Red  Fox  Bullfrog 
Mining  Company.  These  claims  were  purchased  by  the 
Forward  Company  after  a  thorough  and  exhaustive  in- 
vestigation by  their  engineers;  who  are  unanimous  in  the 
opinion  that  they  will  develop  into  good  mines.  THE 
FORWARD  COMPANY  RETAINS  CONTROL  OF  THE  MASCOT 
AND  RED  Fox  COMPANIES,  and,  as  a  natural  consequence, 
their  future  affairs  will  be  under  the  management  of  the 
splendidly  equipped  field  and  executive  staff  of  the  For- 
ward Company.  This  "Community  of  Interests"  in 
itself,  would  be  regarded  as  a  valuable  asset  by  any 
company;  for  if  only  a  small  measure  of  the  success 
achieved  by  the  Forward  officers  in  the  Combination, 
January  and  Black  Butte  mines  follow  them  into  the 
Mascot  and  Red  Fox,  their  stocks  will  soon  command  a 
handsome  premium. 


"The  principle  executive  officers  of  the  Forward,  Red 
Fox  and  Mascot  Companies,  Messrs.  L.  L.,  W.  F.,  and 
J.  M.  Patrick,  have  been  more  than  successful  in  all  of 
their  undertakings  in  the  mining  west  for  years— partic- 
ularly at  Goldfield— and,  as  the  word  FAILURE  is  not 
in  their  lexicon,  it  is  easy  to  forecast  success  in  anything 
they  undertake. 

"The  low,  yet  ample,  capitalization,  with  large  treas- 
ury reserve  of  both  of  the  above  companies,  are  also 
features  greatly  in  their  favor  and  will  interest  many 
investors  who  object  to  "top  heavy''  capitalization.  The 
Forward  Company  is  capitalized  for  500,000  shares,  with 
300,000  in  the  treasury,  and  the  Mascot  and  Red  Fox  are 
capitalized  at  1,000,000  shares  with  499,995  shares  in  the 
treasury;  the  par  value  of  these  stocks  is  $1.00  per  share. 

"In  addition  to  its  Mascot  and  other  valuable  inter- 
ests in  Goldfleld,  THE  FORWARD  COMPANY  is  ALSO  A 

LARGE  STOCKHOLDER  IN  THE  JOSHUA  MAN,  GOLD    BUTTON 

AND  MAYFLOWER  COMPANIES,  now  being  vigorously  de- 
veloped by  the  successful  "Vindicator  Crowd"  of  Cripple 
Creek,  and  which  embraces  in  their  holdings  over  400 
acres  in  the  very  heart  of  the  Goldfield  district." 

Regarding  the  financial,  physical  and  other  conditions 
surrounding  the  Joshua  Man,  Gold  Button  and  Mayflower 
Companies,  we  would  say,  that  in  addition  to  having  a 
large  and  ample  reserve  fund,  they  are  under  the  control 
and  management  of  the  same  people  who  own  and  control 
the  Vindicator  mine  in  Cripple  Creek,  Colo.,  which  has 
paid  to  date  over  $1,225,000  in  dividends  to  stockholders. 

The  Red  Fox  Bullfrog  Mining  Co. 

Like  the  Mascot  Company,  the  Red  Fox  Bullfrog 
Mining  Company  is  a  "subsidiary"  of  the  Forward  Com- 
pany, and  will  enjoy,  as  the  Mascot  Company  does,  the 
almost  priceless  advantages  that  go  with  being  attached 
to  a  concern  of  such  large  potential  resources  and  "push." 

The  property  owned  by  the  Red  Fox  Bullfrog  Mining 
Company  consists  of  three  full  claims— the  "Red  Fox," 
"Parker  and  Davis"  and  "Speculator,"  embracing  over 
60  acres,  and  the  "Speculator  Fraction,"  of  about  10  acres; 
making  a  total  area  of  about  70  acres.  Over  4,500  feet 
of  strongly  mineralized  veins  have  already  been  exposed 
within  this  area,  and  it  is  the  confident  opinion  of  the 
Forward  Company's  engineers  that  the  main  veins  and 
"feeders"  of  the  rich  Denver,  Tramp,  Great  Eastern, 
Golden  Scepter  and  other  Bonanza  mines,  situated  south 
and  a  little  east  of  the  Red  Fox,  extend  through  its 
ground.  These  claims  are  situated  on  the  north  end  of 
Bonanza  Mountain,  in  direct  line  with  the  general  trend 
of  all  the  leading  veins  of  this  mountain.  A  remarkable 
feature  connected  with  the  veins  on  or  near  Bonanza 
Mountain  is  that  every  one  of  them  has  developed  into 
Bonanza  mines  under  what  would  be  considered  in  other 
districts  as  only  "gopher  work."  What  this  mountain 
will  produce  under  competent  and  vigorous  development 
it  is  hard  to  conjecture.  The  Denver,  Peerless,  Tramp, 
Great  Eastern,  Equitable,  Hobo,  Twiller,  Golden  Sceptre 
— in  fact  about  every  claim  on  or  near  the  mountain — 
have  shipping  ore  and  are  valued  already  at  fabulous 
figures. 

5 


The  following  item,  taken  from  the  leading  paper  of 
what  might  be  termed  an  "opposition  camp,"  gives  one  a 
good  idea  of  the  locality  in  which  the  Red  Pox  Mines 
are  situated: 

(Bonanza,  Tonopah,  Nev.) 

"In  the  ridiculously  short  time  that  the  Bullfrog  dis- 
trict has  occupied  the  eyes  of  the  world,  values  have 
been  found  in  that  region  that  have  caused  the  prospector 
and  miner  to  gasp,  the  world  to  smile  its  unbelief;  yet 
discovery  followed  discovery  and  the  facts  found  to  exist 
in  that  fabulously  rich  region  by  incredulous  experts 
have  come  rather  reluctantly  from  these  gentlemen,  who 
were  in  no  wise  prepared  to  meet  such  unprecedented 
conditions.  The  whole  of  Bonanza  Mountain,  from  a 
metallurgical  standpoint,  is  the  acme  of  perfection. 

"The  extremely  well-defined  veins  and  value-bearing 
ledges  leave  very  little  to  conjecture  and  have  given  rise 
to  the  saying  in  Bullfrog  that  "even  a  tenderfoot  could 
see  that  it  is  a  sure  proposition." 

"The  management  of  The  Forward,  Mascot  and  Red 
Fox  Companies  are  under  the  direct  supervision  of 
Messrs.  L.  L.,  J.  M.  and  W.  F.  Patrick,  and  the  whole 
Forward  Company's  staff  of  expert  miners  and  engineers. 
These  men  are  not  only  familiar  with  every  phase  and 
turn  of  the  mining  business,  but  are  thoroughly  familiar 
with  the  local  geological  and  mineralogical  conditions  of 
the  Goldfield  and  Bullfrog  Districts. 

"Lucien  L.  Patrick,  president  of  the  Red  Fox,  Mascot 
and  The  Forward  Mining  Development  Company,  now 
one  of  the  fortunate  miners  of  Goldfield  and  Bullfrog, 
Nevada,  is  well  and  favorably  known  to  the  prominent 
mining  men  of  Colorado,  Nevada  and  other  western  states. 
He  has  good  judgment  and  is  a  careful  manager,  having 
been  very  successful  in  Leadville  and  Aspen,  Colorado; 
Kootenai,  B.  C.,  and  in  the  State  of  Washington,  and 
now,  within  the  last  two  years,  at  Goldfield  and  Bullfrog, 
Nevada." 

On  October  26, 1903,  Mr.  Patrick  induced  some  East- 
ern friends  to  join  him  in  taking  a  bond  on  the  Com- 
bination mine  at  Goldfield.  They  paid  $5,000  and  had  a 
year  in  which  to  pay  $70,000  more  and  take  title.  Since 
they  took  hold  of  the  mine  it  has  produced  over  $1,500,- 
000,  is  still  outputting  from  $5,000  to  $7,000  worth  of  ore 
per  day,  and  pays  $36,000  per  month  in  dividends;  which 
is  10  per  cent,  monthly  on  its  issued  capital  stock  of 
360,000  shares. 

Shortiy  after  making  the  Combination  purchase,  Mr. 
L.  L.  Patrick  and  two  other  partners  leased  the  adjoining 
claim  called  the  January,  which  has  proven  even  richer 
than  the  Combination.  A  late  edition  of  the  "Goldfield 
News"  states  that  the  January  lessees  have  blocked  out 
more  than  $1,000,000  worth  of  ore. 

Mr.  Patrick  was  the  first  to  recognize  the  possibilities 
of  the  Goldfield  district,  going  there  when  there  were 
less  than  a  dozen  people  in  the  camp;  now  the  population 
is  about  10,000,  and  there  are  from  seventy-five  to  one 
hundred  arrivals  daily. 

As  to  Mr.  Patrick,  any  bank  or  banker  in  Tonopah  or 
Goldfield,  Nevada,  or  prominent  mining  man  in  Colorado, 
can  be  referred  to. 

"W.  F.  Patrick  opened  up,  developed  and  sold  to  The 
American  Smelting  Company,  the  Aftermath  mine  at 


Ten  Mile,  near  Leadville,  Colorado,  realizing  a  profit  of 
over  $250,000  for  himself  and  partners.  A  year  or  so 
later  he  was  one  of  the  first  to  strike  sulphide  lead  ore  at 
Leadville,  when  he  took  a  bond  and  lease  on  the  famous 
Colonel  Sellers  mines,  and  operated  it  till  he  sold  it  to 
the  Smelting  Company  of  New  Jersey,  paying  out  about 
§1,000,000  in  dividends  to  the  owners. 

"On  the  Aftermath  property,  less  than  $10,000  was 
spent  in  development  and  $250,000  realized.  In  the 
Colonel  Sellers,  $23,000  was  spent  and  $1,000,000  was  paid 
in  dividends  to  the  owners. 

Mr.  J.  M.  Patrick,  the  Denver  managing  director  of 
the  Forward,  Mascot  and  Red  Fox  Companies,  was  con- 
nected with  many  large  and  successful  financial  under- 
takings in  Colorado  previous  to  the  organization  of  the 
above  Companies  and,  as  office  manager,  adds  much 
strength  to  what  is  conceded  to  be  an  exceptionally 
strong  combination. 

"Briefly  summarized,  it  would  seem  if  there  is  any- 
thing in  'nothing  succeeds  like  success,'  and  'a  nimble 
nickel  is  better  than  a  slow  dollar,'  that  one  could  not 
make  a  mistake  in  being  associated  with  the  Patrick 
Brothers  in  any  of  their  mining  or  kindred  undertak- 
ings."— Mining  Investor,  Colorado  Springs. 

Letters  from  the  following  well-known  mining  men, 
endorsing  Mr.  William  F.  Patrick,  of  Denver,  Colorado, 
now  of  Goldfield,  Nevada,  are  on  file  in  our  office,  and 
copies  of  same  will  be  furnished  on  application: 

DAVID  H.  MOFFAT,  President  of  The  First  National 
Bank,  Denver,  Colorado. 

SAMUEL  NEWHOUSE,  Capitalist  and  Mine  Owner, 
Denver,  Colorado. 

JOHN  F.  CAMPION,  Capitalist  and  Mine  Owner,  Den- 
ver, Colorado. 

EBEN  SMITH,  Capitalist  and  Mine  Owner,  Denver, 
Colorado. 

EX-GOVERNOR  JAMES  B.  GRANT,  Chairman  of  Direc- 
tors, American  Smelting  &  Refining  Co.,  Denver,  Colorado. 

JOHN  S.  CAREY,  Mine  and  Smelter  Supply  Company, 
Denver,  Colorado. 

HON.  CHAS.  S.  THOMAS,  ex-Governor  of  Colorado. 

ROBERT  S.  CORY,  Allis  Chalmers  Supply  Co.,  Den- 
ver, Colorado. 

CHAS.  T.  LIMBERG,  President  of  The  American  Na- 
tional Bank,  Leadville,  Colorado. 

These  letters  recommend  Mr.  W.  F.  Patrick  to  the 
public  as  a  mining  engineer  of  high  standing,  with  long 
and  successful  practical  experience,  technical  knowledge, 
integrity  and  correct  habits. 

Our  Facilities 

The  success  of  this  Company  is  assured  by  having 
among  its  members  and  on  its  Board  of  Trustees  well- 
known  mining  men  of  high  standing,  who  have  been  for 
years  actively  engaged  in  mining  in  the  various  districts 
throughout  this  country  and  abroad,  and  from  their  long 
experience  in  this  line  of  work  they  have  become  familiar 
with  the  different  mining  districts,  and  have  extended 
acquaintance  with  prospectors  and  mining  men,  from 


whom  they  are  constantly  receiving  mining  propositions 
— prospects  and  partially  developed  properties. 

Such  an  organization  as  this  has  a  great  advantage 
over  the  usual  mining  company  that  is  organized  to  ex- 
ploit a  single  group  of  claims,  as  our  purpose  will  be  not 
to  confine  our  effort  to  any  one  locality  or  single  proposi- 
tion, but  to  investigate  and  take  advantage  of  any  good 
propositions  offered,  and  to  invest  only  a  small  propor- 
tion of  our  capital  in  any  one  enterprise. 

The  Company  Promises 

FIRST— To  exercise  the  rights  and  powers  of  the  cor- 
poration for  the  benefit  of  all  its  members. 

SECOND— To  operate  in  mines  on  a  strictly  commer- 
cial and  businesslike  basis. 

THIRD— To  occupy  a  position  where  mining  properties 
and  propositions  of  a  kindred  nature  will  be  brought  to 
this  Company  for  the  purpose  of  promoting,  working  or 
purchasing  the  same. 

FOURTH — To  have  and  to  keep,  combined  in  one  com- 
pany, experienced  mine  managers  and  mining  experts 
and  engineers,  and  energetic,  successful  promoters,  all 
bound  by  mutual  interests  and  constantly  striving  to 
advance  the  Company's  welfare. 

Railroad  Facilities  of  Nevada 

» 

Following  quickly  upon  the  development  of  these  later 
mining  districts  of  Nevada,  which  have  within  two  years 
outstripped  the  great  records  of  the  early  silver  produc- 
ers, the  railroads  are  being  extended  into  the  new  camps, 
and  before  the  end  of  the  present  year  all  of  these  great 
mining  centers  will  be  connected  by  rail  with  the  outside 
world,  and  the  products  of  these  bonanza  mines,  and  the 
vast  amount  of  machinery,  food-stuffs  and  general  mer- 
chandise required,  will  provide  an  immense  tonnage. 

At  present  the  Southern  Pacific  crosses  the  northern 
part  of  the  state,  and  at  Hazen  the  Nevada  &  Colorado 
extends  into  Tonopah  and  Goldtield,  and  will  be  carried 
southward  to  Bullfrog,  Rhyolite,  Beatty,  and  other  camps 
in  that  district. 

From  the  south  two  lines  are  being  built  into  the 
Bullfrog  District. 

From  Las  Vegas,  a  point  on  the  San  Pedro,  Los  An- 
geles &  Salt  Lake  Railroad  (Senator  Clark's  road)  a 
branch  called  the  Las  Vegas  &  Tonopah  is  being  built 
•northward  into  the  Bullfrog  District,  and  before  the  year 
is  ended  will  reach  Tonopah. 

The  "Borax  Smith"  road,  starting  from  Ludlow,  a 
station  on  the  Santa  Fe  in  California,  and  in  the  vicinity 
of  the  great  borax  works,  is  also  going  northward  into 
the  Bullfrog  District. 

It  will  thus  be  seen  that  ample  railroad  facilities  will 
be  provided  for  the  Nevada  mining  districts. 


Mining  Investments 

A  demand  always  exists  for  a  class  of  investments 
which  will  promise  a  fair  and  reasonably  safe  return 
upon  the  money  invested.  Nobody  wants  to  leave  his  or 
her  money  in  a  bank  or  storage  vault  if  they  can  put  it 
where  it  will  yield  a  revenue.  Eastern  stocks  of  un- 
doubted merit  have  ranged  at  such  high  prices  as  to 
yield  only  a  small  interest,  while  stocks  have  shrunk  so 
disastrously  that  it  has  resulted  in  a  renewed  interest  in 
Western  mines,  where  risks  have  been  reduced  to  a  min 
irmim,  and  the  returns  frequent  and  many  times  greater 
than  that  obtained  from  other  investments.  The  S}  stem 
of  paying  dividends  monthly  and  quarterly,  so  much  in 
vogue  in  mining,  and  the  declaring  of  extra  dividends, 
greatly  increases  the  earning  power  of  investments. 

Careful  investigation  shows  that  there  has  been  im- 
measurably less  loss  from  capital  judiciously  invested  in 
mines,  and  far  gi  eater  profits,  than  have  been  realized 
from  any  commercial  or  manufacturing  pursuits. 

The  following  article  appeared  in  a  recent  issue  of 
the  "Philadelphia  Press": 

"  The  most  encouraging  feature  in  the  mining  situa- 
tion is  the  new  stand  the  business  world  is  taking  in  re- 
gard to  the  mining  industry.  Not  more  than  a  decade 
ago  mining  was  frowned  upon  as  a  gamble  by  conserva- 
tive men  in  the  East.  Improved  methods  in  the  indus- 
trial as  well  as  the  financial  end  of  mining  have  worked 
a  change  in  this  respect.  The  mining  industry  is  no 
longer  described  as  speculative.  Men  who  formerly 
shuddered  at  the  mention  of  a  mine  are  now  scrambling 
for  shares  in  going  properties  and  taking  chances  in  un- 
developed prospects.  Large  banking  houses  are  under- 
writing the  stocks  of  mining  companies,  and  the  public 
in  general  is  beginning  to  appreciate  the  important  rela 
tions  of  our  mineral  wealth  to  our  national  prosperity 
and  advancement.  Scarcely  a  day  passes  in  this  invent- 
ive and  scientific  age  without  the  application  of  some 
new  method  of  extorting  wealth  from  the  rockbound 
matrix  of  nature.  The  cyanide  process  of  gold  extrac- 
tion, for  instance,  has  been  worth  countless  millions  to 
the  West.  It  has  rendered  profitable  immense  bodies  of 
ore  that  was  practically  worthless  before  its  advent.  All 
the  conditions  of  mining  favor  increasing  outputs  of  the 
precious  metals,  which  constitute  the  real  wealth  of  the 
country,  and  mining,  in  short,  has  proved  itself  the  most 
legitimate  of  industries." 

"The  National  Banker"  says: 

"  The  unparalleled  prosperity  of  the  mining  industry 
at  the  present  time  has  caused  widespread  public  atten- 
tion. Fortunes  are  being  obtained  by  following  mining 
and  by  investing  in  mining  stocks,  and  the  shrewd  busi- 
ness men  of  today  are  realizing  this  fact  and  profiting  by 
it,  as  in  no  other  period  of  history.  There  is  an  element 
of  hazard  in  every  business,  but  not  as  great  a  risk  in 
mining  as  has  been  imagined  in  the  past.  Mining  has 
been  reduced  to  a  business.  Improved  machinery,  scien- 
tific knowledge  and  business  management  place  mining 
on  as  safe  a  plan  of  operation  as  that  of  any  business 
requiring  all  these  elements.  Millionaires  and  multi- 
millionaires are  made  in  this  marvelous  industry." 

The  New  York  "Tribune,"  of  April  26,  1903,  says: 
"  There  is  a  general,  but  mistaken,  impression  that 
the  tremendous  increase  in  the  world's  annual  gold  out- 


put  is  due  to  the  numerous  discoveries  of  late  years  in 
different  parts  of  the  globe  of  new  fields,  particularly 
placers.  Unquestionably,  the  output  of  these  add  greatly 
to  the  world's  store  ;  but  one  must  look  for  the  source  of 
not  the  least  substantial  increase  — to  the  wonderful 
strides  made  in  the  applied  sciences  and  to  the  improved 
and  more  business-like  management  and  conduct  of 
quartz-mining  operations." 

The  New  York  "Herald,"  in  a  recent  issue,  said: 

"It  is  undeniable  that  the  most  influential  men  in  the 
business  world  have  turned  their  attention  to  mining,  the 
source  of  nearly  all  wealth,  and  those  persons  who  have 
been  enslaved  to  the  idea  that  the  only  safe  proposition 
was  a  5  per  cent,  or  6  per  cent,  security,  now  realize  that 
many  millions  of  interest  have  been  lost  to  them  through 
heeding  the  advice  of  those  who  are  interested  in  cheap 
money;  and,  further,  the  richest  men  in  the  world  are 
mining  kings,  many  of  whom  have  grown  powerful 
through  the  proper  application  of  originally  a  moderate 
capital,  and  it  is  proven  that  while  millions  of  dollars 
have  been  lost  in  railroads,  farm  mortgages,  Eastern 
industrials,  and  building  associations,  the  American  min- 
ing industry  has  steadily  advanced,  making  enormous 
profits  for  its  supporters,  building  great  states  and  cities, 
and  pointing  with  pride  to  the  American  possessions  of 
253  mines  that  have  paid  in  dividends  over  $625,000,000." 

Quoting  from  "The  New  York  Engineering  and  Min- 
ing Journal"  of  Jan.  5,  1905,  we  have  a  grand  total  of 
dividends  paid  by  public  mining  companies  in  1904  of 
$46,692,000,  which,  compared  with  $31,470,000  paid  dur- 
ing 1903,  shows  an  increase  of  48  per  cent.  The  copper 
mines  should  be  credited  with  a  large  share  of  this  in- 
crease, as  17  declared  $26,161,000,  which  compares  with 
$15,989,000  paid  by  the  same  number  in  1903.  The  gold, 
silver  and  lead  companies,  77  in  number,  declared  divi- 
dends of  $19,106,000,  which  is  $4,394,000  more  than  1903. 
The  largest  dividend-paying  mine  is  the  Silver  King  of 
Utah,  which  declares  monthly  $100,000  and  an  extra  of 
the  same  amount  in  December,  on  a  share-capital  of  $3, 
000,000.  In  addition  to  the  above  dividends,  Americans 
shared  in  the  payments  of  $2,219,000  made  by  seven 
Mexican  companies;  $338,000  by  two  in  Central  America, 
and  $456,000  by  two  in  Canada. 

There  were  many  more  millions  paid  to  individuals 
and  close  corporations,  of  which  we  can  get  no  record, 
and  hence  the  above  figures  are  by  no  means  complete; 
to  the  lay  reader  they  quite  suffice  to  acquaint  one  with 
the  possibilities  of  the  industry,  and  the  desirability  of 
mining  stocks  as  an  investment. 

Reverting  to  such  items  as  the  following,  taken  from 
the  Denver,  Colo.,  "Mining  Record,"  it  is  easy  to  under- 
stand why  mining  is  receiving  such  widespread  atten- 
tion: 

"Goldfield,  Nov.,  Jan.  7,  1905.  — The  Combination 
Mines  Company  has  paid  its  third  dividend,  being  for 
$32,000,  or  10  per  cent,  on  stock  outstanding.  It  has 
been  ascertained  that  the  company  intends  to  pay  this 
dividend  regularly  every  month,  instead  of  quarterly,  as 
heretofore  stated.  It  is  not  only  able  to  do  this,  but,  as 
a  matter  of  fact,  it  has  been  placing  an  equal  amount  for 
the  past  two  months  into  a  reserve  fund,  and  will  con- 

10 


tinue  to  do  so  until  $100,000  is  so  placed,  after  which  it 
is  probable  that  the  dividends  will  be  increased.  As 
these  dividends  are  being  paid  on  shipping  ore  only,  and 
with  no  special  effort  at  production,  it  can  readily  be 
seen  that  when  the  new  mill  begins  grinding  out  bullion, 
a  dividend  of  50  per  cent,  monthly  is  not  improbable." 

From  a  still  more  recent  number  of  the  Denver 
"  Mining  Record,"  we  clip  the  following  item  : 

"COMBINATION'S  PRODUCTION. 

"By  a  combination  of  mining  and  milling  operations 
the  management  of  that  very  productive  property,  the 
Combination  mine,  is  laying  up  a  substantial  amount  of 
easy  money  each  week  for  the  stockholders,  and  besides 
paying  regular  dividends  is  adding  constantly  to  the 
treasury  reserve.  Last  week,  better  than  200  tons  of  ore 
having  an  average  grade  of  $50  per  ton  were  treated  at 
the  company's  mill,  and  the  total  monthly  production  at 
this  time  is  about  1,000  tons,  of  a  valuation  in  excess  of 
$50,000.  The  entire  output  is  maintained  from  develop- 
ment, and  large  ore  reserves  are  being  blocked  out  for 
future  treatment. 

"Every  pound  of  ore  mined  is  being  treated  at  the 
mill  at  the  mine,  and  the  plant  is  meeting  every  test  suc- 
cessfully. There  has  been  no  time  since  pay  ore  was  first 
opened  when  the  property  has  ceased  production,  and 
the  values  obtained  in  new  ground  being  opened  up,  to- 
gether with  the  high-grade  bodies  now  showing,  insures 
a  constant  and  increased  production  for  many  years  to 
come." 

From  a  recent  number  of  the  "Goldfield  News"  we 
also  extract  the  following : 

"The  Combination  was  the  first  mine  in  the  Goldfield 
District  to  ship  ore,  and  though  it  cost  its  present  own- 
ers practically  but  $5,000,  has  produced  to  date  $1,500,000 
worth  of  ore.  It  is  the  best-equipped  property  in  camp, 
having  its  own  modern  20-stamp  mill,  which  saves  above 
90  per  cent,  of  the  values  in  the  ore  by  crushing,  amalga- 
mating, concentrating,  and  cyaniding." 

When  it  is  remembered  that  the  Combination  is  only 
one  of  seventeen  shipping  mines  in  the  Goldfield  Dis- 
trict ;  that  the  camp  is  actually  only  a  little  over  two 
years  old;  and  that  we  promoted  the  Combination, 
January,  Black  Butte  and  other  leaders  in  the  district, 
it  is  easy  to  see  why  Goldfield  is  attracting  the  attention 
of  the  investing  world  and  why  we,  with  our  equipment, 
knowledge,  experience  and  foothold  already  gained, 
should  succeed  in  any  new  undertakings. 

When  we  promoted  the  above  Companies  our  means 
at  hand  were  limited  to  our  individual  resources,  but 
the  added  capital  which  the  treasury  of  the  Forward 
Company  will  make  available,  still  greater  results  should 
be  achieved. 

To  those  seeking  employment  for  their  money  in  a 
creative  capacity,  and  in  corporations  whose  destinies  are 
guided  by  men  of  sound  judgment,  courage,  honest  and 
successful  records,  we  believe  the  Forward,  Mascot,  Red 
Fox  and  collateral  concerns  offer  exceptional  opportu- 
nities. 

Quoting  from  a  prominent  eastern  financial  publica 
tion,  we  would  say: 


"Put  your  money  into  productive  or  creative  enter- 
prises—  enterprises  which  have. their  future  before 
them— not  behind  them.  Link  your  fortunes  with  men 
of  judgment— with  men  of  creative  and  executive  ability— 
with  men  of  honesty.  If  they  possess  these  qualities 
they  will  exercise  them  just  as  surely  along  their  natural 
lines  as  rivers  flow  through  their  natural  channels. 
Every  fibre  of  their  being  urges  them  to  build  up.  Their 
slogan  is  ''I  WILL."  With  such  men  you  are  safe. 
They  are  living  exponents  of  the  "square  deal."  Char- 
acter and  judgment  comprise  a  foundation  upon  which 
you  can  rely  as  surely  as  you  can  rely  upon  the  hardness 
of  the  diamond  or  the  resiliency  of  steel.  They  will  carry 
their  projects  forward  to  success,  and  it,  by  the  same 
token,  will  carry  you  forward  to  fortune." 
i 

Statements  will  be  issued  from  time  to  time,  setting 
forth  the  condition  and  progress  of  the  Company's  affairs. 
In  the  meantime  all  inquiries  will  receive  prompt  and 
courteous  attention  from  the  officers  of  the  Company. 

Address  all  communications  to 


THE  FORWARD 
MINING  DEVELOPMENT  CO. 

19  Toltec  Block 

DENVER 
COLO, 


